Articles

This case-study is a follow-up to the Transition Planning for Farmers: Multi-year Planning article. Little by little, one farm successfully changes hands It’s not often you hear someone describe their farm transition as “flawless,” but that’s just how Denis Boucher labeled the experience. For as long as Denis can remember he wanted to farm, so … Read more

Part 4: Transitions should not occur over night Most transition plans last multiple years and often require substantial amounts of planning, conversations, thinking, restructuring and focus. Often the transition begins long before it truly begins with informal conversations in the barn or on a drive into town. Other times the transition may be delayed for … Read more

This case-study is a follow-up to the Transition Planning for Farmers: Diversified Operations article. From crops to biogas, how and why one farm made a drastic transformation post-transition. Gerald and Birthe Perry had always planned to retire at 60 and put the farm in the hands of their two sons, Chris and Harold. Chris’s dad … Read more

Part 3: Moving from one model of success to another Most farmers in Canada transition the farm down to another family member. Often, though, the transition needs to grow or diversify in order to maintain a new standard of profitability. When a child comes homes, and possibly brings a partner along with them, the same … Read more

On April 12, 2022, Manitoba’s Finance Minister Cameron Friesen presented the province’s fiscal 2022-23 budget. Budget 2022 sets the path to recovery in five priority areas: healthcare, the economy, communities, affordability, and the environment. Provincial deficits of $1.4 billion for 2021-22, $548 million for 2022-23, and $440 million for 2023-24 are projected. The government foresees … Read more

This case-study is a follow-up to the Transition Planning for Farmers: Tax, Finance, and Estate Planning article. Farm family makes money work for them despite challenging circumstances Editors note: the farmer case study chose to use an alias due to privacy concerns. All other details remain intact and have been independently verified. Third-generation cash crop … Read more

Part 2: Capital considerations during a farm transition As the incoming generation begins to succeed the outgoing one with farm ownership of their own, one critical piece to the puzzle are the financial, estate, and tax-related aspects. Farms are often multi-million dollar operations that have serious financial implications depending on how a given year plays … Read more

Part 1: Bringing the outsider in Transition planning is one of the biggest decisions a farm family will ever go through. It’s for that primary reason that it is done right the first time. Conversations will be continuous and a constant flow of information between the incoming and outgoing generation are imperative. However, we recognize … Read more

This case-study is a follow-up to the Transition Planning for Farmers: Third-Party Facilitators article. Multi-generational seed farm, value-added business transition a smooth process thanks to trained facilitator When Tom Greaves’s father-in-law, Calvin Pitura, first approached him with a job offer for a management position at Pitura Seed Service, Tom came back with about one million … Read more

On April 7, 2022, Deputy Prime Minister and Federal Finance Minister, Chrystia Freeland, tabled the federal 2022-23 budget. Budget 2022 entitled “A Plan to Grow Our Economy and Make Life More Affordable” focuses on three pillars: The Canadian People Budget 2022 outlines several actions aimed at stabilizing Canada’s turbulent housing market, addressing the housing shortage, … Read more